What’s next? – DAX 08.12.17

The German stock index DAX futures were 0.78 percent higher as of 06:50 GMT at 13,103.0 points on Friday, with market players looking ahead to fresh data later in the day.

The German benchmark ended at 13,045.15 points on Thursday, adding 46.30 points or 0.36 percent, with Telecoms, Pharmaceuticals & Healthcare and Transportation & Logistics supported gains, while Consumer & Cyclical, Chemicals and Insurance turned to the downside.

The best performers of the session were Prosiebensat 1 Media, which added 3.06 percent or 0.850 points to 28.590. Commerzbank increased 2.32 percent or 0.280 points to 12.370 and RWE posted a 2.30 percent or 0.450 points gain at 20.015.

The worst performers of the session were BASF, which dropped 0.87 percent or 0.820 points to 93.070. Bayer was down 0.67 percent or 0.70 points at 104.15 and Muench. Rueckvers. declined 0.59 percent or 1.10 points to 184.00.

On the data front, German industrial production for October eased by 1.4 percent compared to an initially estimated increase of 1.0 percent.

In other news, the Eurozone’s third-quarter gross domestic product came in at 0.6 percent, in line with expectations. On annual basis, the GDP showed a 2.6 percent growth rate.

On Thursday, attention was also directed to a speech by ECB President Mario Draghi, who delivered remarks in a press conference by the Bank for International Settlements.

“When the next crisis will be is hard to foresee. But the present system is much more resilient than the one we saw before the crisis,” said Draghi.

Ahead in today’s session, Germany will release trade balance figures for October at 07:00 GMT, with a 21.8-billion-euro superavit seen.

Fort Financial Services